[Featured Stock] Hyundai Rotem Rises on Continued Order Momentum Expectations... New High

Hyundai Rotem showed strength on expectations of order momentum, reaching a 52-week high during the session.

As of 9:15 a.m. on the 20th, Hyundai Rotem is trading at 68,400 KRW, up 2,000 KRW (3.01%) from the previous day. During the session, it rose to 69,500 KRW, setting a new 52-week high.

This is interpreted as being influenced by positive forecasts from securities firms that the order momentum will continue.

KB Securities raised Hyundai Rotem's target price from 75,000 KRW to 82,500 KRW, reflecting upward revisions in earnings estimates. Jeong Dong-ik, a researcher at KB Securities, said, "It is necessary to pay attention to the continuing order momentum. It is expected that an execution contract for 180 units of the K2 tank Polard 2-1 phase will be signed in the fourth quarter, and since various options will be added to the second contract, the amount of the second contract is expected to significantly exceed 4.5 trillion KRW. In addition, the fourth mass production contract for the Korean military (150 units, about 2 trillion KRW) is also expected to be concluded in the fourth quarter, and the first contract for Romania, expected to be around 100 to 150 units, is likely to be possible by the first half of next year at the latest," he said.